Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest. 
&nbsp; 
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>. 
&nbsp; 
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials. 
&nbsp; 
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.

[smartcode_project:default project_id=6680 project_image_fid=371325] 
&nbsp; 
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand. 
&nbsp; 
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.

“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.” 
&nbsp; 
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity. 
&nbsp;&nbsp; 
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project. 
&nbsp; 
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp; 
&nbsp; 
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;

[smartcode_project:default project_id=6680 project_image_fid=338516] 
&nbsp; 
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;

Completion is slated for early 2027.

[smartcode_project_cta:default project_id=6680]

Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.

Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.

The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.

Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" />

The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.

The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.

According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."

"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.

"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.

"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."

The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.

COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.

The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.

<img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" />

Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.

Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.

Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a>

&nbsp;

&nbsp;

&nbsp;

Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

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Ellen Walker

Off-the-plan property explained: What is stamp duty?

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Ever walked down the street and thought, ”Yes, I really like that house” or “Yikes! That house does nothing for me!”?
At the very first glance of a property we instantly form an impression.   It is human nature to judge a book by its cover.
You'll never get a second chance to make a great first impression. You may have heard that people will form an impression of you, your character, your personality — an impression that is nearly indelible — all within the first 60 seconds of meeting you.  But wait – recent reports say now it could take as little time as a blink of the eye!
It may take just a 10th of a second to form an impression of a stranger from their face, but objects are categorised as soon as they are perceived. That really leaves nothing to chance.
Try this: stand on the opposite side of the street from a property and turn your back to it, then turn around to face it for a few seconds and turn away again.  Anything that caught your eye in that time should be neutralised or removed.  Perhaps there was an over-grown bush, a bright coloured balustrade, a broken window awning. If you noticed anything that did not bring you a good feeling then the property hasn’t given you a good first impression.
While it’s pretty important to like a house if you are living in it, it’s equally important for your tenants to like where they live, too.  When developing property for our clients, we want a great first impression. When it comes down to it, we are creating a dream, for our client as investors but also for their tenants so they look after the property and stay a long time.
Once you find a development site, you should move quickly to the design phase. Ensure your design blends in well with the local surroundings.  Look at direct neighbouring properties and what materials they are made of and look at the best property in the street (based on the highest sale price) and see what it is made of.  While you should be conscious of not over-capitalising, you still want to stand out in the street so your development will be noticed.
Today there is so much choice when choosing exteriors for the new dwellings that there’s really no excuse to produce a boring front façade. Street presence is what house facades are all about.  It can be a little overwhelming to start with. Do you go with metal roofing or concrete tiles? Do you choose a face brick or go for the clean rendered look?  Should you combine weatherboard cladding with other materials? Obviously your budget may dictate some choices.
When looking at exterior colours for your project consider this:
<ul>
<li>The roof represents around 30% of the total look;</li>
<li>The walls are roughly 60%; and</li>
<li>The fascias and guttering represent about 10%</li>
</ul>
 The exterior of even a low budget development can be maximised. Here are a few suggestions to discuss with your architect:
<ul>
<li>Use a combination of finishes – perhaps some rendered walls combined with face brick or other elements such as lightweight cladding or stacked stone (depending on location and budget).</li>
<li>Another finish making a big comeback is external panelling. There are products we use that look like weatherboard but are actually a lightweight fibre cement panel – its low maintenance and rot resistant.</li>
<li>Use contrasting brick work – two different face bricks.  It won’t cost any more as long as both bricks are within the builder’s range.</li>
<li>The mathematical precision of brickwork can be emphasised by using a contrasting mortar to the brick colour, i.e. for dark brick, use a white mortar. Or using a light-coloured brick with flush mortar joint finish in a matching colour will give the impression of a large single-coloured area similar to a rendered surface. I call this the “poor man’s render look”.</li>
<li>Feature columns – we’re not talking Julius Caesar-style, but contrasting brick or bagged columns to the front can add some interest.</li>
<li>Bagging is a lighter form of rendering that isn’t straight with perfect angles. It allows for the slight imperfections to be seen but can look just as good on the right property and is much cheaper.</li>
<li>Timber inserts to gables – A gable is the triangle formed by a sloping roof.  Rather than just paint it, you can use timber, aluminium panels or even Colourbond cladding.</li>
</ul>
If you really do want to make a “statement”, remember the garden planting you put along your facade is another opportunity, and probably contributes just as much to the street impact. And the good news is, when you grow tired of a garden bed, it’s much easier to change about than the front of a home.
Jo Chivers is director of <a title="Property Bloom" target="_blank" href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
 
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Streetside first impressions count in property

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So how have we started 2012? In a word, quietly.
By any previous year’s measurement, 2012 has been pretty quiet out of the blocks – except for agent claims of numbers through opens.
<ol>
<li style="line-height: 17px;">Only a handful of $3 million-plus buys</li>
<li style="line-height: 17px;">Little new stock of high calibre at this price level came onto the market in February. This is particularly so in the inner east. March may turn out to be different from what we are hearing and seeing pre-market with a number of sellers keen to get a result prior to our early April Easter. But that is conjecture until we see March new stock numbers confirmed.</li>
<li style="line-height: 17px;">When the market is quiet, agent turnover drops and so do agents’ incomes; unrest builds and the merry-go-round begins. During late 2011 and early 2012 agent coffee shop meetings have been up.</li>
</ol>
So yes, the market still seems a little quiet, but it’s not that bad. It’s pretty much as expected, and this weekend went as well as a selling agent could have hoped for.
What of the claimed increase numbers at open for inspections? We actually support this premise and the implication that demand may be stronger than the results show.  Our enquiry numbers are up and the number of clients looking for homes is also up on this time last year, even if we’ve seen little change in the number of clients in actual negotiation this year compared to last. Result-wise we also started OK, with buys in Fitzroy, Glen Iris and Brighton in the $1 million, $2 million and $3 million price bracket in early February. 
On the auction scene, overall demand was not too awful. At 6.pm Saturday, the James Clearance Rate for million-dollar-plus properties in the inner east and bayside was 58% on the 31 auctions we attended. The Weekly Review Bidderman, our demand indicator, began the year at 1.5 bidders per auction.
Last weekend’s numbers were low, at just over 50 in that million-plus bracket. But next weekend will have well over 100, a solid number. And we’ll see a similar number on March 3 before we have a significant drop on March 10 due to the Labour Day weekend.
Market wrap-up
<ul>
<li>Overall the market appeared weaker on early results, i.e. under the hammer. As the day wore on though, and pass-ins were cleaned up, the indications were that the market seems to have started as well as could be expected. But it’s too soon to say it’s a clear positive trend.</li>
<li>Stock levels on offer were low in number, in quality and in dollar value. Only two auctions had results over $3 million – one sold and one didn’t. So it’s still a bit foggy to us.</li>
<li>A number of pass-ins were cleaned up post auction – meaning a lot of the action was not visible this weekend.</li>
<li>The phenomenon that became very evident late in 2011 has continued in 2012. This weekend we counted 46 bidders at 31 auctions – so there is demand out there. But there was no evenness: five auctions had 50% of the bidders averaging almost five bidders per auction and the other 26 auctions averaged just under one bidder per auction.</li>
</ul>
‘Round the grounds: Bayside – Low levels and mostly unexciting stock, so 56% is an even result. Boroondara – Actually that’s pretty impressive first up – 83% clearance. Stonnington – Solid start on low numbers  – 75% clearance Port Phillip – Whoops – somebody forgot to tell the buyers auctions had started again – 20%
Market summary – year to date 2012
Last year was a year of generally falling prices – with the exceptions of the months of May, September and December. Yes, we finished the year off OK, but it was more a case or arresting the fall rather than any lighting of price rockets.
Last year we saw drops in market values on homes that started too high on price, with owners that then had to sell. This was particularly the case with properties that were of inferior quality or in poor positions. In many cases these drops were 20% and more off the Anzac Day 2010 high. A lot of that fall in value happened in the last quarter of 2011.
On the subject of price falls: some organisations are spruiking median price increases in the last quarter of last year as real stats, which only proves that there are dope tests that can have false positives. The market did have some strong results in December but overall it was a negative second half for many sellers (in terms of lower selling prices or not selling at all).
 
Mal James is principal of<a href="https://www.jamesbuyeradvocates.com.au/" title="James Buyer Advocates" target="_blank"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.
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Melbourne's top-end property market starts the year quietly

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The sale of one property and the withdrawal from the market of a second have made way for two new entrants onto SQM Research's top 10 most discounted properties list. 
The property at 102 Fountain Road, Burpengary has been withdrawn from the market unsold. It made its debut in the number-three spot on SQM's most discounted properties list <a href="https://www.propertyobserver.com.au/hotspots/horse-stud-discounted-by-42-in-five-months-on-sqm-discount-list/2011090651455" target="_blank">in September 2011</a>, when its price hopes were cut from $1.2 million to $600,000.
SQM Research director Louis Christopher noted at the time that it made its debut with a discount of over $500,000 in the space of five months.
"The vendors of this property, which was a former horse stud, featuring attributes such as an in-ground pool, ducted air-conditioning, stables and feed shed, billiard room with built-in bar and 1.5kw solar panels, are most likely struggling to find a suitable buyer for a home with such niche characteristics,” Christopher said.
The property has now been withdrawn from sale after being marketed by Coronis Real Estate agents since April 2011. Most recent listing agent Mark Pickles says the vendors were unwilling to discount the property any further and were unable to secure a buyer.
The number nine and 10 spots are now taken up by two hinterland properties, 13 Hawcroft Place in the WA town of Lancelin and 1302 Birkdale Place in Magenta, on the NSW central coast.
The Magenta property has featured on SQM's list of properties that have been on the market the longest, appearing<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/nsw-central-coast-dominates-top-10-longest-property-listings/2011080251010"> at number seven on in August 2011</a>. At the time the property's price hopes had been reduced from an initial $700,000 to $500,000, a reduction of 29%. It had been on the market 1,131 days.
In November 2011 its price hopes were slashed again to $450,000, or a 36% discount. It is currently offered at $450,000, and it has been on the market more than three years. 
1
<a href="https://www.realestate.com.au/property-house-qld-karragarra+island-106914618" target="_blank">60 Treasure Island Avenue, Karragarra Island, Queensland, 4184</a> 
On the market since: October 3, 2010
Initial asking price: $349,000
Current asking price: $185,000
Reduction: 47%
Days on market: 496
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479016" target="_blank">92 Beelong Street, Macleay Island, Queensland, 4184</a>
On the market since: May 23, 2010
Initial asking price: $590,000
Current asking price: $340,000
Reduction: 42%
Days on market: 629
 
3
<a href="https://www.realestate.com.au/property-house-qld-karragarra+island-106914618" target="_blank">121 Treasure Island Avenue, Karragarra Island, Queensland, 4184</a>
On the market since: October 23, 2010
Initial asking price: $335,000
Current asking price: $200,000
Reduction: 40%
Days on market: 476
 
 
4
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008421301">27 Reeve Street, Campania, Tasmania, 7026</a>
On the market since: June 14, 2010
Initial asking price: $330,000
Current asking price: $200,000
Reduction: 39%
Days on market: 609
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106866439">329 Waterford Road, Ellen Grove, Queensland, 4078</a>
On the market since: October 16, 2010
Initial asking price: $1,275,000
Current asking price: $800,000
Reduction: 37%
Days on market: 483
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106364068" target="_blank">22 Fenton Avenue, Christies Beach, SA, 5165</a>
On the market since: March 6,  2010
Initial asking price: $1,195,000
Current asking price: $750,000
Reduction: 37%
Days on market: 707
 
7
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295" target="_blank">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.45 million
Reduction: 37%
Days on market: 1,348
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">8</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106211228">15 Gretel, Two Rocks, WA, 6037</a>
On the market since: December 26, 2009
Initial asking price: $1.1 million
Current asking price: $699,000
Reduction: 36%
Days on market: 777
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107358501">13 Hawcroft Place, Lancelin, WA, 6044</a> (pictured)
On the market since: April 30, 2011
Initial asking price: $1.49 million
Current asking price: $949,000
Reduction: 36%
Days on market: 287
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,334
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia</a> for sale.
 
 
 
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cknowlton-QnEa6ntUYP

A sale and a withdrawal make room for two new properties on SQM's most discounted list

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Many Australian consumers complain about the high cost of living. But more than likely you would hear the same complaint if you went back 30 years ago or even 50 years ago. Fortunately through the power of technology we can test – at least partially – whether times are indeed tougher now than in the past.
Search firm Google has made available scanned copies of old newspapers, enabling researchers to gain insights into the cost of goods over time. Despite the fact that Google disbanded the project in May last year, it has created an impressive database. For Australia the most comprehensive resource is the Sydney Morning Herald, with 38,755 copies digitised from 1830 to 1989.
CommSec has utilised the Google newspaper archive and the Reserve Bank inflation calculator to get a perspective on the cost of living 30, 40 and 50 years ago. And it is clear that Australians in 2012 are better off than their parents and grandparents with a raft of items far more affordable today, whether you measure the cost in 2012 dollars or compare the prices of goods with the value of wages.
What does it all mean?
Aussie consumers may complain about the cost of living, but it is clear that the quality and affordability of many goods is far better now than 30, 40 or 50 years ago. For instance, 50 years ago, in February 1962, a “standard” Holden cost £1,107 or $2,214. At that time the average weekly male wage (non-managerial) was $49.40. So it would have taken a worker almost 45 weeks of wages to buy the vehicle. Today it would take the average worker about 28 weeks of wages to buy a new Holden Commodore Omega auto. And clearly the quality and range of accessories in today’s vehicles is far superior to that of 50 years ago.
Certainly it’s not just cars, but kitchen appliances, alcohol, travel and bedroom furniture are among the items that are far more affordable in 2012 than in the past. For instance, in 1982 a “Celestial” two-itre kettle was advertised for $29.99 – the equivalent of $92.75 in 2012 dollars. Currently a “Homemaker” 1.7 litre kettle can be purchased for $25 at Kmart.
While many items have become more affordable over time, the same can’t be said for housing. In 1962, land in Penrith in the western suburbs of Sydney (“Sydney’s newest suburb”) could be purchased for £595. In today’s dollars that would equate to just over $15,000.
But in 2012 the cheapest land that could be found near Penrith would cost just over $200,000. Of course, land in 1962 can’t be readily translated to 2012 as amenities and transport times have changed. But if purchasing power was kept constant with 1962, a home buyer today would need to find a block of land around $32,000 – only obtainable in country areas like Henty, Braidwood or Kempsey.
The bottom line is that people generally have a poor appraisal of either the cost of living or standard of living. It is difficult for the average consumer to assess not just the relative cost of items, but more importantly affordability (that is, relating prices to wages) as well as the relative standard or quality of goods over time.
Fortunately technology now allows these comparisons to be made quickly and accurately.
The government, Reserve Bank, retailers and other businesses are among those that benefit from providing perspectives of affordability or purchasing power over time. Economists are generally good in tracking price changes over time but are poor at keeping actual prices to permit comparisons of affordability. In fact the Bureau of Statistics recently stopped publishing data showing the average prices of grocery items 30 years ago.
Thirty years ago (Sun Herald February 14, 1982)
The headline news of the day was speculation of a health fund  takeover – “The NSW government is poised to take control of the state’s second biggest health fund – HCF – in a move to provide cheaper health care.”
In sport, New Zealand beat Australia in a one-day international despite a century by Greg Chappell. At the cinema, For Your Eyes Only and On Golden Pond were playing. The top-selling album was Business as usual by Men At Work. And Young Talent Time was on television at the time – strangely enough as it is today.
The goods that dominated advertisements in the newspapers were cars, bedroom furniture, household appliances, liquor and women’s shoes. All the major department stores at the time heavily advertised – Grace Bros, Waltons, David Jones and Myer. At the time, the average weekly wage for full-time employees was $276.90 (male wage $347.20). Inflation was running at an 11% annual pace; the Aussie dollar was around US107 cents; and the cash rate was 15.2%.
In terms of liquor, Teachers Scotch Whisky was advertised at $11.99 and a case of Tooth KB or Reschs DA cans of beer cost $11.99. Using the average male wage for comparison in 1982 you could buy 29 bottles of whisky and 29 cases of beer. Today you can purchase 35 bottles of whisky and 41 cases of Carlton Cold on the current male wage.
A bottle of Richmond Grove chardonnay was advertised at the time at $4.29. In 2012 dollars that would equate to $13.27. Currently at Dan Murphy’s, Richmond Grove French Cask chardonnay is priced at $11.99 a bottle.
In terms of household goods, a two-litre Celestial Kettle was advertised at Waltons for $29.99. In today’s dollars that would equate to $92.75. Interestingly at the current time Kmart is advertising a 1.7 litre kettle for $25.
A Thorn 53cm TV was advertised at that time for $699; today that would equate to $2,161.81. A Sony Betamax VCR similarly cost $799 back in 1982.
A Westinghouse 370-litre fridge was advertised at Waltons for $699 (today’s dollars $2,161.81). Today Harvey Norman is selling a 390 litre fridge for $1,109.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/dural.jpg"><img src="/images/stories/duralthumb.jpg"></a>
In terms of travel, a 10-day/eight-night trip to the Bali Kuta Beach Club was advertised at $518-$698. In today’s dollars that would equate to $1,602-$2,158. By comparison a seven-night Bali holiday (Ramada resort) was recently advertised at $1,099.
Interestingly though, there was also an advertisement for Hotel Craigieburn Bowral offering five days’ accommodation with all meals for $156. In 2012 dollars that would equate to $482.46. The hotel is now known as Peppers Craigieburn Bowral and the cheapest five-day package without meals now costs $821.
The higher cost of the holiday accommodation appears a function of generally higher property prices. In fact a home on five acres (two hectares) was advertised at Dural for $298,000. In 2012 dollars that would equate to $921,630.85. The same home sold last year for $2.075 million.
Forty years ago (Sun Herald February 13 1972)
At that time one of the major stories was the flood threat posed by Cyclone Daisy: “Much of the NSW North Coast was awash last night as Cyclone Daisy battered its way south.” The other main story was headlined “500,000 to lose jobs over strike” – the report stating that 500,000 workers in Victoria and other states could be stood down if a power strike does not end.
In sport, Shane Gould added two wins to her gold medal tally at the Australian swimming championships. On the 2SM top 40, Imagine by John Lennon was at number 11. At the cinema, Diamonds Are Forever was showing. And World Championship Wrestling and Adam 12 were some of the programs on TV at the time.
Clothing dominated advertisements at that time including furs and men’s suits but furniture, mattresses and household appliances were also featured. All the major stores at the time heavily advertised – McDowells, Farmers, Norman Ross, Nock &amp; Kirby’s, Horderns, Waltons, David Jones and Mark Foy’s.
At the time the average weekly wage for all employees was $73.80 (male wage $96.20). Inflation was running at a 7.3% annual pace; the Aussie dollar was around US119 cents; and the cash rate was 4.9%.
Grace Bros heavily promoted a “$500,000 fur sale” at the time and Cornelius was also heavily promoting furs. Today a retailer wouldn’t openly promote such a sale. Grace Bros also had an advertisement featuring typewriters and the retailer also promoted “values in pullovers and cardigans from $3”. In today’s dollars that would equate to $27.11, so the bargains certainly appear reasonable from a 2012 perspective.
David Jones advertised men’s suits for $54 (‘young style’) and $70 (‘top name men’s suits’). In today’s dollars the suits would equate to $487.91 and $632.48 respectively . Currently suits can be purchased in major department stores for around $299 to $399.
Grace Bros also promoted a 24-inch (61 cm) “theatre type” Thorn TV for $229 (note black-and-white TVs existed at that time). In today’s dollars that TV would equate to $2,069.12.
The newspaper gave indicative prices for some vegetables such as lettuce, tomatoes and potatoes. A lettuce was priced at 10¢, equating to 90¢ in 2012 money. Currently Woolworths is selling lettuces for $1.98. But tomatoes were priced at 15¢ to 20¢ a pound. In today’s dollars that would equate to $1.36 to $1.81 a pound, but Woolworths is quoting $1.95 a kilogram or 89¢ a pound. And potatoes were also judged to be cheaper in 1972 than today at 36¢ to 54¢ a pound versus 90¢ today.
In 1972 an advertisement stated “Jet your way to the UK and Europe for $645 return”. That would equate to $5,827.86 in today’s dollars, showing that overseas travel at the time was very much a luxury.
At that time a three-pint (1.7-litre) kettle cost $18.95 and a toaster cost $15.95. In today’s dollars that would equate to $171.22 and $144.12. In comparison, recently Kmart advertised a 1.7-litre kettle for $25 and a two-slice toaster was advertised at $29.
 
<hr class="system-pagebreak">
 
Fifty years ago (Sun Herald February 11, 1962)
The headline story was “Aust. Ships threatened” with the report alleging that “Indonesian war planes are shadowing and menacing Australian oil tankers on the vital supply route from Sumatra to Botany Bay.”
In sport, 10,500 people turned out to watch a NSW vs. South Australia Sheffield Shield cricket match featuring Bob Simpson, Brian Booth, Neil Harvey, Alan Davidson, Garfield Sobers and Richie Benaud. There was also a review of a new film, Breakfast at Tiffany’s.
The “non-managerial adult male” weekly wage was equivalent to $49.40 a week (pounds, shillings and pence at the time); inflation was just 0.7%; and the cash rate was just 3.43%.
Household goods such as mowers, furniture, fridges and washing machines featured in advertisements together with clothing and cars. David Jones, McDowells, Farmers, Grace Bros, Mark Foy’s, Bebarfalds and Waltons were the major retailers at the time.
Bebarfalds offered a £100 trade-in on a 10 cubic feet Pope Automatic fridge, stating the list price of the fridge at £208 Using the Reserve Bank inflation calculator that would equate to $5,288.95 in today’s dollars.
It is notable that the major retailers were promoting the value of trade-ins at the time, noting that you could save almost half the purchase price of a new refrigerator by trading in an old fridge up to five years old.
Mark Foy’s listed coats, frocks and slacks sets for a £6 ($151.87 in today’s dollars) with suits, coats and frocks at £8 ($202.50) and swimsuits, blouses and pullovers at 30 shillings ($37.97). While some of these prices seem reasonable, it’s important to relate the prices to the average wage. A good coat or women’s suit would cost around a third of the weekly wage (male) or around $467 in 2012 terms.
Mark Foy’s also listed a men’s suit at 19 guineas (a guinea was 1 pound, 1 shilling), equating to around $505 in 2012 dollars. Meanwhile Anthony Horderns listed “English tailored suits” at a £26/19/6, equating to around $683 in 2012 dollars. In 2012, equivalent suits may cost $299 to $399.
A Hoovermatic washing machine was listed at 123 guineas or $3,269.05 in 2012 dollars. Today a washing machine could be purchased for as low as $548, and as much as $1,048 for a featured-packed model.
In terms of cars, a standard Holden was listed at £1,107 (today’s dollars, $28,020.45), a standard Ford Falcon was £1,137 ($28,779.81) and a Triumph Herald 1200 (with a “new big engine”) was listed at £812 ($20,553.39)
Notably there was also an advertisement for land in Penrith – “Sydney’s newest suburb”. The land was advertised for £595 with £10 “full deposit on every block”. In 2012 dollars the land would be the equivalent of $15,060.67.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/penrith.jpg"><img src="/images/stories/penriththumb.jpg"></a>
In the same advertisement the price of land in Caringbah was stated at £1900 (2012 dollars, $48,092.91) and Collaroy land was stated as £1950 (2012 dollars, $49,358.51). Today, it would be rare to find land in either suburb. But in Cronulla (near to Caringbah) land can be purchased for around $800,000.
Whichever way you cut it, home buyers in 1962 had a significant advantage over home buyers in 2012.
Implications
While consumers may complain about living costs, in many ways today’s shoppers have a significant advantage over their parents or grandparents. Clothing, cars, household appliances, liquor and overseas travel are more affordable today than 30, 40 or even 50 years ago. So the slow rate of retail spending appears more a factor of consumer reluctance to spend rather inability to spend.
However one factor potentially constraining household spending is the cost of property.
From the examples we have gleaned over the past 50 years, land and houses are generally less affordable today. However it is always difficult to factor in improvements in infrastructure, the standard of homes and increases in the number and range of amenities. Clearly a home or home site in Penrith in 2012 is a far cry from that back in 1962.
Still, cars are more affordable in 2012 than in the past despite the fact that features, standard of vehicles and accessory levels today are far superior. Cheaper production costs and efficiencies can partly explain the greater bang for your buck being achieved by car buyers while lower tariff levels have also served to reduce car prices over time.
Craig James is chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec.</a>
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Housing has become less affordable in past 50 years as everything else becomes cheaper

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We've come a long way since Kevin 07, WorkChoices and the description of climate change as the "greatest moral challenge of our time". On the flipside, with Rudd circulating for the leadership, the Fair Work Act damned daily in the press and a carbon tax on its way, maybe we're heading back to where we started – but a lot more battered and bruised.
As SmartCompany celebrates its fifth birthday, we're looking forward and backwards in a special two-part feature.
In part one, we take a <a href="https://www.smartcompany.com.au/economy/048298-the-five-trends-that-shaped-smartcompany-s-first-five-years?utm_source=SmartCompany&amp;utm_campaign=381bc631a2-Tuesday_21_February_201202_21_2012&amp;utm_medium=email">look</a> at the key trends that have shaped the last five years.
In this second part of the special, we've spoken to some of the country's great thinkers to find out what's in store for Australian businesses over the next five years.
What are the themes entrepreneurs need to be aware of? And how should SMEs prepare?
<h3>Volatility rolls on</h3>
If the average deleveraging cycle lasts about a decade, we still have a long way to go before the global financial crisis recedes – and either a bust-up of the euro or a nasty recession from strict austerity measures don't bode well for Europe, and its business partners across the world.
Shane Oliver, head of investment strategy and chief executive at AMP Capital Investors, says private-sector deleveraging among advanced companies will curb economic growth in the years to come – and the past few years' volatility will continue as central banks in Europe and the US continue with their "extreme" monetary policies; that is, holding interest rates around zero.
Lest companies think they can bow out of macro-economic concerns, Professor Kosmas Smrnios, lecturer in entrepreneurship at RMIT, says SMEs can ill-afford to put their heads in the sand by avoiding global competition.
"Organisations will need to look at the big picture," he says. "A parochial stance will be a thing of the past unless someone can deliver a niche product to suit a particular market."
<h3>Technology and structural change</h3>
RMIT's Smrnios says with technology developing in leaps and bounds, the focus is on how organisations can better use technologies to manage global competition and changes in supply. And as the shelf life for products and services shrink, Smrnios says technology will help companies stand out from a pack, be creative and innovative.
The Service 2020: Megatrends for the decade ahead report, conducted by the Economist Intelligence Unit and released last month, says firms will need to use the increased transparency brought by social media to their advantage.
"The clear trend to come out of this [social media] is that organisations understand it's here to stay and they need to harness it," says BDO Australia national chairman Tony Schifmann.
But although few would argue that companies can afford to ignore the enormous audiences of Twitter and Facebook, it'll be imperative for businesses to work out on their return on investment. Social media can go awry or soak up too much time; expect smarter methods to emerge as businesses get smarter with their social media practices.
The effect of technology will be most profoundly felt by the retail sector, says IBISWorld founder Phil Ruthven, likening its impact to the introduction of self-services decades ago. Just as self-service caused the demise of many retailers from the 1960s onwards, he argues, online is doing it all over again.
<h3>A new consumer</h3>
Demographer Bernard Salt says changing business models should be front of mind for all business-leaders.
"It's almost like in the Australian business community, the consumer market was travelling along and then ran into the GFC, and now everyone is battening down the hatches waiting for it to pass. But my view is we'll come out of the storm pointing in another direction," Salt says.
"Big picture structural shifts are afoot and business needs to be anything but complacent about strategic thinking."
"If you've invested in a business predicated on a model based on the 1970s through to 2010, and the model has genuinely shifted, then no amount of smart business practices will fix it."
So who's in line? Salt says by 2020, between 15-20% of retail sales could be competing online, having a profound impact on retailers and the traditional consumer model.
Similar change will sweep through the tourism industry, which has traditionally been predicated on mum, dad and the kids going on holiday in Queensland rather than jumping on a Jetstar flight to Bali.
And then there's manufacturing: Salt says although Germany has managed to retain its manufacturing sector, this is largely because its manufacturing is value-added, sophisticated and generally can't be replicated in China – yet. These are some weighty questions for out-of-favour sectors.
<h3>Sustainability</h3>
Smrnios says sustainability will be another key theme in business for the next five years.
With the carbon tax and associated compensation taking force later this year, and the commitment of Labor and the Greens to prepare for the "green economy", SMEs are urged to familiarise themselves with the financial incentives and government programs for greening up.
<h3>People power</h3>
An ageing population and ongoing skills shortages mean staffing will remain a key issue for entrepreneurs in the years ahead. Smrnios says the focus will be on finding and retaining people who:
<ul>
<li>have the appropriate skills;</li>
<li>fit in with the culture,</li>
<li>can work in teams;</li>
<li>solve problems; and</li>
<li>be up-to-date with technology.</li>
</ul>
Beyond the issue of Australia's ageing population – how will it be funded, how much longer people will have to work, how will the government and companies deal with foreign labour – industrial relations will likely loom as a hot-button issue for the country.
Phil Ruthven of IBISWorld says there is "some suggestion that the industrial relations legislation [Fair Work] may be a bit of time bomb for the future," particularly among mining and construction companies.
Time will tell what the Fair Work review throws up, and how the Coalition would change things if it won the next election. No doubt we'll get yet another system that will claim to get the balance right.
This article originally appeared on<a href="https://www.smartcompany.com.au/index.php" target="_blank"> SmartCompany</a>.
 
 
 
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Five key trends for the next five years

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The Snowtown bank listing has been pulled by eBay from its online auction on grounds that its breaches eBay’s community content standards.
Some 47 eBay bids from 17 bidders had been made in the initial 16 hours of the online auction of Snowtown’s infamous bank building.
The bidding opened with a $US25 offer added to the $US1000 starting price.
The bidding stood at $35,100 when eBay took down the listing.
The barrel storage of murder victims was not mentioned on the auction site. Listing agent Nigel Christie says he believed he was adhering to eBay policy on murder memorabilia. 
Christie is seeking to have the eBay listing reinstated.
But the originating Hale Real Estate website does say: “Ever wanted a piece of grisly SA history?”
It adds: “Buyers should note that illegal activities were conducted in the old bank building, and you should enquire to the nature of these activities prior to bidding.”
Click to enlarge
<a rel="shadowbox" href="/images/stories/snowtownlisting.jpg" title="Click to enlarge"><img src="/images/stories/snowtownlistingthumb.jpg"></a>
The disused bank at Snowtown, about 140 kilometres north of Adelaide, became infamous after police discovered eight mutilated bodies in barrels inside the vault of the bank in 1999.
<img src="/images/stories/ebayremoved.jpg">
The bank sold the premises for $43,000 in 1995. It first sold after the gruesome discovery in 2000 at $34,560.
It sold again at $130,000 in 2005.
It last traded at $142,000 in 2006.
The online auction reserve price had been hidden from participants.
The property originally built as the bank manager’s residence consists of four good-sized bedrooms and the old bank building.
“It has since been used as rental for commercial purpose and more recently as a band room/games room and setting for the movie Snowtown,” bidders were advised.
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<a rel="shadowbox" href="/images/stories/snowtownebay.jpg" title="Click to enlarge"><img src="/images/stories/snowtownebaythumb.jpg"></a>
“This property is for definite sale so buyers should bid with confidence,” the eBay marketing said.
The auction of 30 Railway East Terrace was scheduled to conclude on March 20.
The bidder with the highest offer was expected to enter into a Real Estate Institute of South Australia contract within seven days of the closing of bids, according to the listing rules.
Hale Real Estate director Nigel Christie has said the Snowtown property had $200,000 expectations.
“The bank and home would make an ideal investment giving two separate rental opportunities: the four-bedroom home and the ex-bank (subject to consents).”
The listing is also being advertised on <a target="_blank" href="https://www.realestate.com.au/property-house-sa-snowtown-109650811">realestate.com.au</a>.
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Auction site eBay pulls publicity-seeking Snowtown bank listing on grounds of poor taste

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Salta Properties has secured the $61 million sale of its office and warehouse complex at CitiPort Business Park in Port Melbourne to the listed property group GPT.
The business three zoned complex at CitiPort (pictured below) comprises 28,000 square metres of office and warehouse facilities over five storeys with basement car parking.
<img src="/images/stories/salta.jpg">
Salta developed CitiPort 13 years ago, being one of the first to develop in the Port Melbourne precinct.
Its other estates include CitiLink Business Park, which it has sold previously, and Gateway@Port Estate, which Salta still owns.
“CitiPort has also been Salta’s head office since it was developed, and we will continue to occupy under lease for the time being,” Salta Properties managing director Sam Tarascio says.
The sale was negotiated by Tony Iuliano, national director industrial at Colliers International, and colleague Rob Joyes.
Tarascio says that the sale is in line with its business strategy and it intends to use the proceeds of the sale to advance Salta’s development pipeline.
“Following the successful sale of CitiPort Business Park, we are in a strong position to expand and accelerate the delivery of our substantial development pipeline and to take advantage of attractive opportunities as they come to market.
“We can now transfer capital towards new opportunities and existing developments, beginning by ramping up construction for projects at <a target="_blank" href="https://www.greensquareapartments.com.au/">Green Square in the Victoria Gardens Precinct</a> and at the dynamic Nexus Business Park,” Tarascio says.
The 2.55-hectare Lorimer Street building has a total building area of 28,000 square metres. There is a car park for 567 vehicles. Its fully leased net income was given as $5.5 million annually.
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Salta intends to ramp up construction of Green Square, Abbotsford project after $61 million Port Melbourne office block sale

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Mirvac has sold 55% of its first Harold Park residential precinct in Glebe in the first two months of marketing the project off the plan, according to its interim results for the six months to December 2011.
The developer sold 155 of the 296 apartments released for sale in the first two months of the marketing campaign with prices ranging from $495,000 to $1.7 million.
The developer began marketing the scheme, which will be built on the site of the Harold Park paceway, in November 2011.
Off-the-plan buyers have included media personality <a href="https://www.propertyobserver.com.au/developments/deborah-hutton-buys-two-off-the-plan-units-in-mirvac-s-glebe-harold-park-project/2011121252810" target="_blank">Deborah Hutton, who bought two apartments in December</a>.
In its Yarra’s Edge precinct in Melbourne’s Docklands Mirvac has also sold 47 out of the 82 luxury river homes, with prices ranging from $885,000 to $7 million and has exchanged contracts on 161 apartments in <a href="https://www.propertyobserver.com.au/developments/docklands-development-yarra-point-three-quarters-sold-as-mirvac-says-the-price-is-right/2011110252174" target="_blank">the 31-storey Yarra’s Point tower</a> with prices ranging from $500,000 to $2.4 million. No settlements have been recorded for the project. Also at Yarra’s Edge, boat owners have snapped up 96 out of the 149 marina berths with prices ranging from $120,000 to $225,000.
<img src="/images/stories/mirvacfeb21.gif">
In total, Mirvac exchanged pre-sale contracts of just over $1 billion in its residential projects over this period, a 20% increase over the first half of the year, and achieved 849 residential lot settlements over the six-month period.
More than half of off-the-plan buyers have come from NSW ($596 million) followed by Victorian buyers ($325 million), Queensland ($76 million) and WA ($11 million).
Managing director Nicholas Collishaw says Mirvac has commenced on the path of restring gross margin of between 18% and 20% on its residential projects and is also on target to achieve 1,800 sales in the 2012 financial year.
Collishaw says there has been strong interest in the Harold Park project, which is still two years away from completion.
He says Mirvac will continue to expand into areas of high demand for medium-density living.
The developer has registered an increase in first-home buyers (comprising a quarter of buyers) and investors (27%) with upgraders and empty-nesters comprising the majority of buyers (48.3%)
The developer says the fundamentals underpinning the housing sector are starting to improve. “Pop growth is starting to pick up, while the combination of declining property prices, rising incomes and lower borrowing costs have resulted in an improvement in housing affordability, says Mirvac.
“The changing preference of new migrants and the ageing of the population suggest the growing preference towards medium density will continue.”
The outlook is strongest for the NSW residential market, where Mirvac has the heaviest weighting (34%). Mirvac anticipates flat markets for WA and Queensland in 2012 and expects the Victorian market to decline in 2012 as it underperforms compared with other states.
Mirvac highlighted an increasing demand for apartments and semi-detached and terraced housing from migrants in its presentation.
Upon completion the 10.6-hectare Harold Park site will comprise 1,250 dwellings of one-, two- and three-bedroom apartments and terraces, with construction due to commence in May this year.
The project has received approval from the NSW state government, with the City of Sydney’s Central Sydney Planning Committee to shortly decide on the first of the development applications for the development.
Mirvac also achieved 46% pre-sales of the 231 lots released in it Pinnacle Waterside development in Rhodes in NSW.
For the six-month period, Mirvac reported a 1% rise in operating profit for the six month to December 31 of $201.5 million, compared with $201 million in the corresponding period in 2010.
 
 
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Mirvac’s off-the-plan sales jump 20%  in second half of 2011

<html><body>Australian Property Monitors (APM) has released a list of results from 244 auctions in Sydney for the weekend of February 18. The clearance rate was 54%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank"> Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's 244 Sydney auction results showing a 54% success rate

<html><body>Australian Property Monitors (APM) has released a list of results from 118 auctions in Melbourne for the weekend of February 18. <a target="_blank" href="https://www.homepriceguide.com.au/saturday_auction_results/Melbourne.pdf">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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